Prescott Manufacturing operates several plants, each of which produces a different product. Early in the current year, John Walker was hired as the new manager of the Meadowbrooke Plant At year-end, all the plant managers are asked to summarize the operations of their plants at a meeting of the company's board of directors. John Walker displayed the following information on a chart as he made his presentation Inventories of finished goods Beginning of the year (30.000 units in the current year and 10,000 units last year) End of the year (20,000 units in the current year and 30,000 units last year) Cost of finished goods manufactured Current Year Last Year $255,000 $85.000 202,000 255,000 900,000 1,020,000 Walker made the following statements to the board "As you know, sales volume has remained constant for the Meadowbrooke Plant Both this year and last, our sales amounted to 100,000 units. We have made real gaiss, however, in controlling oor manufacturing costs Through efficient plant operations, we have reduced our cost of finished goods manufactured by over $100,000. These economies are reflected in a reduction of the manufacturing cost per unit sold from $10-20 last year ($1.020.000 100.000 units) to $9.09 in the current year ($909.000 100.000 Father Also Carter is president of St. Mary's Uverty and is a member of Prescom Manufacturing's boood of directors. However, Father Carer has me background in the accorating practices of manufacturing companies, and he asks you for assistance in evaluating Instructions a. As a preliminary step to your analysis compute the Solowing for the Meadowbrooks Plant in sach of the two years Cost of goods sold 1. Nuober of finished t 3. A cost per acted 4 Aveng cost per un sold Eve the statements made by Walker Comment specifically on Walker's comutation of the manufacturing cost of units sold and ou whathat it appears that the reduction in the cost of finished goods sold was in fact achieved though more efficient operations